Principia Stat of the Week: Roofing demand
Most U.S. residential roofing demand originates from the repair and remodeling (R&R) side of the market. As of 2019, R&R accounted for just under 84% of overall demand and is comprised of both age-related and weather-related demand (75% and 8%, respectively). This breakdown varies by region primarily due to varying levels of weather activity with weather accounting for 19% of roofing in the Southwest (which is the West South Central census division including Texas, Oklahoma, Louisiana, and Arkansas) and 9% in the Southeast.
With a new construction housing rebound in 2019, new single family permits have been on the rise since midyear. New roofing demand is now expected to grow at a faster rate than reroofing demand. New demand is expected to grow at an annual rate of 2.4% versus 1.4% for R&R through 2022. The Southeast and Midwest are expected to have above average growth rates in new construction, and the Southeast is the largest new construction market for roofing.
Principia Consulting is a leading research and consulting firm focused exclusively on the building materials and construction industry. For more than 25 years, we have helped our clients grow faster and more profitably by providing high quality information, analytics, and insights.
For more information about residential decking, contact Principia today.
With a new construction housing rebound in 2019, new single family permits have been on the rise since midyear. New roofing demand is now expected to grow at a faster rate than reroofing demand. New demand is expected to grow at an annual rate of 2.4% versus 1.4% for R&R through 2022. The Southeast and Midwest are expected to have above average growth rates in new construction, and the Southeast is the largest new construction market for roofing.
Principia Consulting is a leading research and consulting firm focused exclusively on the building materials and construction industry. For more than 25 years, we have helped our clients grow faster and more profitably by providing high quality information, analytics, and insights.
For more information about residential decking, contact Principia today.